High Interest Rates Savings Accounts From Malaysian Banks


saving account

If you have been keeping track of the many savings tips and habits that we have recommended in previous articles, you could be accumulating some savings by now. To really make the most of your extra capital, you want to get the highest return possible.

You can either choose to invest in your EPF or invest in the stock market, but if you want a safe and flexible option, then a savings account might be the most straightforward choice. Savings accounts give you a stable return on your investment and are conventionally always accessible, as opposed to a fixed deposit.

The defining factor in comparing savings accounts is the interest rate that you will receive on your deposit. To help you out, we have done a comparison of the best savings accounts in Malaysia for 2017. These accounts are sorted by the banks that offer them. We also differentiate between conventional and Islamic accounts. Use this list to find the savings accounts in Malaysia with the highest interest rates.

Savings accounts in Malaysia

HSBCHSBC Basic Savings0.25%
UOBUOB FunSavers account3.05%
UOBUOB Passbook Savings Account1.00%
UOBUOB Saving Plus1.00%
UOBUOB Basic Savings Account0.55%
UOBUOB eAccount0.05%
RHBRHB Junior Savings Account3.17%
RHBRHB MaxSave Account2.01%
RHBRBS Basic Savings Account1.00%
RHBRHB Passbook Savings Account1.00%
RHBRHB Statement Savings Account1.00%
RHBRHB MySave Account0.60%
RHBRHB Basic Savings Account0.28%
AmBankAmBank AmGenius2.95%
AmBankAmBank Basic Savings Account1.20%
AmBankAmBank Everyday Savings Account1.00%
AmBankAmBank Islamic Akaun-i Family Special Savings0.25%
AmBankAmBank Family Special Savings Account0.20%
AmBankAmBank Savers’ G.A.N.G0.20%
Hong Leong BankHong Leong Junior Savings Account2.80%
Hong Leong BankHong Leong Premium Savings Account2.15%
Hong Leong BankMach Dream Jar Savings Account2.00%
Hong Leong BankHong Leong Senior Savers Savings Account1.40%
Hong Leong BankHong Leong Basic Savings Account0.40%
BSNBSN SEDAR Account2.50%
BSNBSN GIRO eSaver2.00%
BSNBSN Basic Savings Account0.95%
Alliance BankAlliance Bank Alliance My eSaving Account1.75%
Alliance BankAlliance Islamic Bank Alliance My eSaving Account1.75%
Alliance BankAlliance Bank Alliance Buddy1.40%
Alliance BankAlliance Bank Alliance Senior Savers1.20%
Alliance BankAlliance Bank Savings Account1.00%
Alliance BankAlliance Bank Basic Savings Account1.00%
OCBCOCBC MoneyMax Account0.95%
OCBCOCBC Basic Savings Account (Easi-Save)0.25%
Standard CharteredStandard Chartered JustOne Priority Savings Account1.00%
Standard CharteredStandard Chartered JustOne Preferred Savings Account0.50%
Standard CharteredStandard Chartered JustOne Personal Savings Account0.25%
Standard CharteredStandard Chartered Basic Savings Account0.25%
Affin BankAFFINBANK AffinGOLD2.80%
Affin BankAFFINBANK Saving Account2.65%
Affin BankAFFINBANK Affin Plus2.60%
Affin BankAFFINBANK Junior Saver2.40%
MaybankMaybank Yippie Savings Account2.97%
MaybankMaybank imteen Account2.97%
MaybankMaybank Maybank2u Savers2.22%
MaybankMaybank Golden Savers Savings Account1.76%
MaybankMaybank Basic Savings Account1.30%
MaybankMaybank Kawanku Savings Account1.20%
Public BankPublic Bank WISE Savings Account2.95%
Public BankPublic Bank Young Achiever Savings Account1.00%
Public BankPublic Bank PLUS Savings Account1.00%
Public BankPublic Bank Basic Savings Account0.55%
Public BankPublic Bank PB Bright Star Savings Account0.70%
Public BankPublic Bank PB SaveLink Account0.70%
Public BankPublic Bank 50 PLUS Savings Account1.26%
OCBCOCBC Young Savers Account2.65%
Bank MualamatBank Muamalat Basic Savings Account0.75%
CIMBCIMB AirAsia Savers Account1.00%
CIMBCIMB Prime Savings Account0.60%
CIMBCIMB Regular Savings Account0.80%
CIMBCIMB Basic Savings Account0.45%
CIMBCIMB Kwik Account0.00%
CitibankCiti Basic Savings Account1.00%

For savings accounts, there is a lot of choice in Malaysia. Most banks offer a wide range of savings accounts, depending on different preferences. For example, a teenager’s first savings account might have different benefits than a savings account designed for people in retirement. Higher interest savings accounts are typically harder to obtain and require higher deposits than lower interest rate accounts. However, the lower interest on some savings accounts might be offset by specific benefits. Low-interest rate savings accounts are generally easy to apply for and quick to use, while higher interest rate accounts typically have a more thorough application process and higher deposit requirements.

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For example, the CIMB Kwik account has a 0% interest rate but is extremely easy to apply to, you can handle everything online.

Use the rates listed here as a general guideline, but make sure you are aware of all the terms and conditions for each savings account. Next to traditional savings accounts, there is also a variety of Islamic savings accounts that you can choose from:

Islamic Savings Accounts in Malaysia

HSBC AmanahHSBC Amanah Basic Savings Account-i0.25%
AmIslamicAmBank Islamic Basic Savings Account-i1.00%
AmIslamicAmBank Islamic Savers’ G.A.N.G Account-i0.20%
Hong Leong IslamicHong Leong Islamic Junior Savings Account -i2.80%
Hong Leong IslamicHong Leong Islamic Multi-Tier savings account -i1.00%
Hong Leong IslamicHong Leong Islamic Bank Basic Savings Account-i0.40%
BSN IslamicBSN GIRO-i Savings Account-i1.06%
BSN IslamicBSN Basic Savings Account-i0.95%
BSN IslamicBSN GIRO-i eSaver0.85%
Alliance IslamicAlliance Islamic Bank Alliance Junior Smart Saver-i1.50%
Alliance IslamicAlliance Islamic Bank Savings Account-i1.00%
Alliance IslamicAlliance Islamic Bank Basic Savings Account-i1.00%
Affin Islamic BankAFFIN ISLAMIC Wealth Saver-i3.18%
Affin Islamic BankAFFIN ISLAMIC AFFINGOLD-i3.15%
Affin Islamic BankAFFIN ISLAMIC Junior Saver-i3.08%
Affin Islamic BankAFFIN ISLAMIC Affin Barakah Charity Account-i2.20%
Affin Islamic BankAFFIN ISLAMIC Savings Account-i2.05%
Bank RakyatBank Rakyat Basic Savings Account-i Adult3.00%
Bank RakyatBank Rakyat Basic Savings Account-i Teenager3.00%
Bank RakyatBank Rakyat Basic Savings Account-i Nuri0.75%
Maybank IslamicMaybank Islamic Yippie-i Savings Account3.05%
Maybank IslamicMaybank Islamic Imteen-i Account3.05%
Maybank IslamicMaybank Islamic Golden Savers Savings Account-i2.70%
Maybank IslamicMaybank Maybank2u Savers-i2.20%
Maybank IslamicMaybank Islamic Basic Savings Account-i1.75%
Maybank IslamicMaybank Islamic Savings Account-i0.40%
Public Islamic BankPublic Islamic Bank Basic Wadiah Savings Account-i0.60%
Public Islamic BankPublic Islamic Bank Bestari Savings Account-i1.01%
Bank Mualamat IslamicBank Muamalat Al-Mudharabah Savings Account2.00%
Bank Mualamat IslamicBank Muamalat BeeSTAR-i Savings Account2.00%
Kuwait Finance HouseKuwait Finance House Basic Savings Account-i1.50%
Asian Finance BankAsian Finance Bank Mudharabah Savings Account-i1.05%
Asian Finance BankAsian Finance Bank Basic Savings Account-i0.00%
CIMB IslamicCIMB Islamic Basic Savings Account-i0.75%
CIMB IslamicCIMB Islamic EcoSave Savings Account-i0.94%
CIMB IslamicCIMB Islamic Wadiah Savings Account-i0.90%

The Islamic savings accounts in Malaysia, grant you a Sharia-compliant alternative to traditional savings accounts. These accounts don’t give out interest, but instead, aim to generate profit through the undertaking of Sharia-compliant activities.

Both traditional and Islamic savings accounts vary a lot in terms of features and benefits. For example, there are specific savings accounts for children and accounts for retirees and college students. Use this list to find and compare the best savings accounts in Malaysia in 2017. Apart from savings accounts, you can use our site to compare personal loans and credit cards for a wide range of banks.

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